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cryptocurrency getting sued

As the cryptocurrency market has cratered since the start of this year Kardashian, Mayweather and Pierce were sued in January in a class. Crypto has generated more than class action lawsuits and other private litigation as of this month, up more than 50% since the start of “She wanted to get this matter behind her to avoid a protracted dispute Kardashian was named as a co-defendant in a class-action lawsuit. CRYPTOCURRENCY PONZI SCHEME

A spokesperson said Ripple disputes the allegations and will defend against them. Tether did not respond to a request for comment. Cryptocurrency exchanges have been another target for investors seeking to recoup losses. Binance U. And in March, investors accused Coinbase of selling 79 digital assets as unregistered securities.

Investors are also suing celebrities who have publicly touted cryptocurrency. Representatives for Kardashian and Mayweather did not respond to requests for comment. Timing should not be an issue for newer lawsuits, but cryptocurrency holders seeking to sue overseas companies in U.

Token holders won a default judgment in New York against Singapore-based exchange KuCoin, but dropped the case after a Singaporean court would not make the company provide information to enforce the judgment. KuCoin did not respond to a request for comment. Another potential hurdle for investors filing claims under securities or commodities laws will be showing their tokens meet the legal definition of those assets.

Some courts have ruled that certain cryptocurrencies fit the bill, but the issue remains unsettled. Cryptocurrency holders may face additional obstacles when going after exchanges. She will also cooperate with an ongoing investigation, and has agreed to not promote crypto securities for three years, the regulator added.

However, Kardashian, who has built a media and lifestyle empire, neither admitted to nor denied the regulator's findings, the SEC said. In a statement, a lawyer for Kardashian said she is pleased to have resolved the matter. She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits," the statement said.

The settlement helped Kardashian avoid a much more intrusive process that might have involved a deposition and document collection, according to attorney Duncan Levin, who has represented convicted fraudster Anna Sorokin, aka Anna Delvey.

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